Payment solutions provider GHL Systems Bhd has teamed up with fintech company Split to enable a buy-now-pay-later (BNPL) service for its merchant network within the country. The new payment option is expected to benefit both consumers and GHL merchants alike.

With this latest partnership, customers purchasing from GHL merchants will be able to pay for their items via instalments of up to three months. The payments can be made with any debit or credit cards from any local banks. Additionally, the BNPL service is provided free with no interest, late fees, financing fees, or any other hidden charges – thereby making these purchases more affordable.

Meanwhile, merchants can look forward to better sales and improved cash flow as they will receive full payment upfront from Split. GHL also said that these BNPL purchases will be instantly approved, adding that the new payment option will first be rolled out at selected merchants by the end of March.

“BNPL is a payment solution that is fast growing in popularity in many developed markets, but is still relatively new in ASEAN and is expected to gain in popularity,” the payment solutions provider in a statement.

The group chief executive officer of GHL, Sean S. Hesh also commented that the BNPL option will enable GHL merchants to sell bigger ticket items as their customers will now have the option to budget their purchase over interest-free instalments. “This affordability is timely due to the impact of the Covid-19 pandemic which has impacted the employment and earning capability of many. We hope this new solution will be beneficial to both our merchants in generating higher sales as well as helping their customers afford their needs,” he said.

Finally, the co-founder and chief executive officer of Split, Dylan Tan chimed in to say that the past year has been equally tough for many Malaysians and Malaysian businesses. “We are proud to partner with GHL to provide all parties involved with a win-win solution, thus ensuring that both merchants and consumers receive the support they require as Malaysia strives to recover from the Covid-19 pandemic and transforms itself into a digitally-driven, high-income nation,” he added.

(Source: The Edge Markets)

• TAGS:
• Buy-Now-Pay-Later Payment Solution
• Dylan Tan
• GHL Systems Berhad
• Sean S. Hesh
• Split